Pathstone Holdings LLC Raises Position in Range Resources Co. (NYSE:RRC)

Pathstone Holdings LLC lifted its stake in shares of Range Resources Co. (NYSE:RRC) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,683 shares of the oil and gas exploration company’s stock after buying an additional 3,238 shares during the period. Pathstone Holdings LLC’s holdings in Range Resources were worth $2,759,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Range Resources during the third quarter valued at about $49,000. Fifth Third Bancorp boosted its holdings in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co bought a new stake in Range Resources in the 2nd quarter worth about $67,000. Finally, International Assets Investment Management LLC purchased a new stake in Range Resources in the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RRC. Royal Bank of Canada boosted their target price on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Stephens lifted their target price on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Range Resources to a “sell” rating in a report on Tuesday, November 12th. Finally, UBS Group decreased their price objective on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $35.00.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G. Griffie purchased 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.

Range Resources Price Performance

Shares of NYSE RRC opened at $35.88 on Tuesday. The firm has a market capitalization of $8.66 billion, a P/E ratio of 18.12 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $31.74 and its two-hundred day simple moving average is $32.53. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts anticipate that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.89%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.